Homework Answers
debit credit
cash a/c dr. 205
accounts recievable a/c dr. 115
to service revenue a/c 320
(service provided for cash and accounts recievable)
depreciation expense a/c dr. 135
to accumulated depreciation a/c 135
(depreciation recorded)
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Suppose your company sells services of $320 in exchange for $205 cash and $115 on account....
a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid...
a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid $1,450 cash in advance for an insurance policy. d. Paid $400 on accounts payable. e. Recorded the adjusting entry to recognize $300 of insurance expense. f. Received $1,600 cash for services to be performed at a later date. g. Purchased land for $9,000 cash. h. Purchased supplies for $350 cash. Required Record each of the above transactions in general journal form and then show...
A company provides services to customers for $2,500 cash. Record the transaction. (If no entry is...
A company provides services to customers for $2,500 cash. Record the transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 A company provides services to customers for $2,500 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
Suppose your company sells services of $180 in exchange for $110 cash and $70 on account....
Suppose your company sells
services of $180 in exchange for $110 cash and $70 on
account.
view transaction list view general journal Journal Entry worksheet Record the service revenue of $110 for cash and $70 on account. ransact Debit Credit General Journal Ion *Enter debits before credits ear entr Lrecordentry done identify the amount that should be reported as net cash flow from operating activities. Net Cash low 3. Identify the amount that would be included in net income. et...
On September 8, a company provides services on account to a customer for $1,800, terms 3/10,...
On September 8, a company provides services on account to a customer for $1,800, terms 3/10, n/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the service revenue...
On September 8, a company provides services on account to a customer for $1,800, terms 5/10,...
On September 8, a company provides services on account to a customer for $1,800, terms 5/10, 1/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the service revenue on account. Note:...
Jake owns a lawn maintenance company, and Luk occurred e owns a machine repair shop. For...
Jake owns a lawn maintenance company, and Luk occurred e owns a machine repair shop. For the month of July, the following transactions July 3 Jake provides 1awn services to Luke's repair shop os account, $370 July 6 One of July 9 Luke pays $370 to Jake for 1avn services provided on July July 14 Luke borrows $470 from Jake by signing a note July 18 Jake purchases advertising in a local nevspaper for the remai July 20 Jake pays...
18 On September 8, a company provides services on account to a customer for $1,800, terms...
18 On September 8, a company provides services on account to a customer for $1,800, terms 4/10. n/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field) 7 points View transaction list 02:10:41 Journal entry worksheet < 1...
ing the month, a company enters into the folowing transactions Buys $8,750 of supplies on account...
ing the month, a company enters into the folowing transactions Buys $8,750 of supplies on account Pays $0,000 cash for new equipment Pays off $4.800 of accounts payable. Pays off $2.450 of notes payable. quired: Show the effect of these transactions account balances with a minus sign) on the basic accounting equation. (Enter any decreases to Liabilitie S Stockholders Equity b. b. Prepare the joumal entries that would be used to record the transactions (if no entry is required for...
Required information The following information applies to the questions displayed below.) The following transactions occur for...
Required information The following information applies to the questions displayed below.) The following transactions occur for the Wolfpack Shoe Company during the month of June: a. Provide services to customers for $21,000 and receive cash b. Purchase office supplies on account for $11,000. c. Pay $5,200 in salaries to employees for work performed during the month. 2. Record the transactions. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View...
[The following information applies to the questions displayed below.] At the beginning of Year 2, Oak...
[The following information applies to the questions
displayed below.]
At the beginning of Year 2, Oak Consulting had the following normal
balances in its accounts:
Account
Balance
Cash
$
31,800
Accounts receivable
20,900
Accounts payable
14,900
Common stock
23,900
Retained earnings
13,900
The following events apply to Oak Consulting for Year 2:
Provided $65,500 of services on account.
Incurred $3,500 of operating expenses on account.
Collected $46,800 of accounts receivable.
Paid $39,100 cash for salaries expense.
Paid $16,560 cash as...
a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid $1,450 cash in advance for an insurance policy. d. Paid $400 on accounts payable. e. Recorded the adjusting entry to recognize $300 of insurance expense. f. Received $1,600 cash for services to be performed at a later date. g. Purchased land for $9,000 cash. h. Purchased supplies for $350 cash. Required Record each of the above transactions in general journal form and then show...
A company provides services to customers for $2,500 cash. Record the transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 A company provides services to customers for $2,500 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
Suppose your company sells
services of $180 in exchange for $110 cash and $70 on
account.
view transaction list view general journal Journal Entry worksheet Record the service revenue of $110 for cash and $70 on account. ransact Debit Credit General Journal Ion *Enter debits before credits ear entr Lrecordentry done identify the amount that should be reported as net cash flow from operating activities. Net Cash low 3. Identify the amount that would be included in net income. et...
On September 8, a company provides services on account to a customer for $1,800, terms 3/10, n/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the service revenue...
On September 8, a company provides services on account to a customer for $1,800, terms 5/10, 1/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the service revenue on account. Note:...
Jake owns a lawn maintenance company, and Luk occurred e owns a machine repair shop. For the month of July, the following transactions July 3 Jake provides 1awn services to Luke's repair shop os account, $370 July 6 One of July 9 Luke pays $370 to Jake for 1avn services provided on July July 14 Luke borrows $470 from Jake by signing a note July 18 Jake purchases advertising in a local nevspaper for the remai July 20 Jake pays...
18 On September 8, a company provides services on account to a customer for $1,800, terms 4/10. n/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field) 7 points View transaction list 02:10:41 Journal entry worksheet < 1...
ing the month, a company enters into the folowing transactions Buys $8,750 of supplies on account Pays $0,000 cash for new equipment Pays off $4.800 of accounts payable. Pays off $2.450 of notes payable. quired: Show the effect of these transactions account balances with a minus sign) on the basic accounting equation. (Enter any decreases to Liabilitie S Stockholders Equity b. b. Prepare the joumal entries that would be used to record the transactions (if no entry is required for...
Required information The following information applies to the questions displayed below.) The following transactions occur for the Wolfpack Shoe Company during the month of June: a. Provide services to customers for $21,000 and receive cash b. Purchase office supplies on account for $11,000. c. Pay $5,200 in salaries to employees for work performed during the month. 2. Record the transactions. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View...
[The following information applies to the questions
displayed below.]
At the beginning of Year 2, Oak Consulting had the following normal
balances in its accounts:
Account
Balance
Cash
$
31,800
Accounts receivable
20,900
Accounts payable
14,900
Common stock
23,900
Retained earnings
13,900
The following events apply to Oak Consulting for Year 2:
Provided $65,500 of services on account.
Incurred $3,500 of operating expenses on account.
Collected $46,800 of accounts receivable.
Paid $39,100 cash for salaries expense.
Paid $16,560 cash as...
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